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Even as the U.S. median rental price hit a new high of $1,876 in June, climbing mortgage rates drove monthly starter homeownership costs 29.9% ($561) higher than rents
SANTA CLARA, Calif., July 21, 2022 /PRNewswire/ -- New data illustrates how higher mortgage rates are increasingly tipping the housing affordability scale in favor of renting over first-time buying. Nationally, the gap between monthly starter homeownership costs1 and rents widened by 25.5 percentage points (+$483) from January to...
>>> Read more: Realtor.com® June Rental Report: Renting is More Affordable than Buying a Starter Home in Three-Quarters of the Largest Metros
SANTA CLARA, Calif., July 21, 2022 /PRNewswire/ -- New data illustrates how higher mortgage rates are increasingly tipping the housing affordability scale in favor of renting over first-time buying. Nationally, the gap between monthly starter homeownership costs1 and rents widened by 25.5 percentage points (+$483) from January to...
>>> Read more: Realtor.com® June Rental Report: Renting is More Affordable than Buying a Starter Home in Three-Quarters of the Largest Metros